Tech-savvy baby boomers will turn 80 soon – what’s it mean?

Baby boomer aging – it’s a big tech opportunity. Today there are 76 million US baby boomers, those born between 1946 and 1964.  They represent 21 percent of the US population.   73% of all wealth in the United States is concentrated among those over age 55, most of whom are baby boomers.   As the oldest of the baby boomers begin turning 80 in January of 2026, which can generate worry (as in that NY Times post) or be viewed as a market opportunity.   Life expectancy at 65 is on average another 20 years.   Note that 20% of the 65+ today are working.   So what does it all mean?

• Business interest in older adults will grow.  Investment firms are noticing – and trying to match offerings to the changing demographics of the market.  And many of the businesses serving older adults are seeking to meet them online, offering deals, sometimes integrated across online and in-person businesses.  In fact, 90% of the 65+ are online and own a smart phone.  
• AI innovation – voice-enabled, will continue to find a ready market.  More than 50% of baby boomers are willing to use their voice to control smart devices in the home, speak a request to their smart phone, or dictate a response to an email.  The oldest baby boomers will take their technology with them into their 80s, expecting to speak a request to a device.  Smartwatches will retain popularity with the older adult population, despite the annoyance of a small screen. They too are voice-enabled now, which may become their most useful tech characteristic. Older adults are already using Google to find health information or enable a smart home.  And AI technologies will increasingly be a part of their lives.  

• Hybrid care models will be commonplace.  There is no disagreement that a caregiver worker shortage has arrived and is worsening, impacting employers, families, and of course, the home and senior care industries .  Efforts are underway to find new sources of workers, even recruiting high schoolers to help out.  The senior focused industries – like home care, skilled nursing and assisted living, are all looking at ways AI technology can help mitigate this crisis, supplementing staff including with various types of sensors to monitor care recipients in the off hours. This model, increasingly described as hybrid care, will combine telehealth visits with remote monitoring during the hours when the care recipient is alone.

• The health care market will virtually serve the patient now.   The physician shortage has arrived in the US.  The patients have noticed – longer wait times to see a physician, the growth in the role of physicians assistants, and the growing offering (and reimbursement for) telehealth visits.  While the in-person visit time may be an average of 17 minutes, but the opportunity to interact with the physician portal is growing. As more older adults have become comfortable online, it has become standard practice to request appointments, copies of medical records, or prescriptions filled has become mainstream.